Amazon + Venmo is a match made in heaven 🫂; Block continues building its Ecosystem of Ecosystems 🚀; Mastercard really loves crypto ❤️🧡
FinTech is Eating the World, 1 November
Hey Everyone,
And happy Tuesday! Today’s issue is undoubtedly the most interesting and solid one in the last couple of weeks. We’re going to look at Amazon + Venmo, or a match made in heaven (& why it’s a massive deal for both companies), Block that continues building its Ecosystem of Ecosystems (it’s not stopping with TradFi & is very aggressively trying to build out its crypto biz), and Mastercard that yet again shows it really loves crypto (& a bonus read on why it could be the real winner of the crypto wars). Let’s jump straight into the awesome stuff:
Amazon + Venmo is a match made in heaven 🫂
The launch 🚀 E-commerce behemoth Amazon AMZN 0.00%↑ just announced that its customers will be able to make payments through the PayPal PYPL 0.00%↑ owned mobile payments service Venmo.
Venmo is being rolled out as a payment option for orders placed on the Amazon site and app as we speak and be fully available by Black Friday on 25 November.
How it will work?📱To be able to pay through Venmo, users will have to first add their account. This can be done at checkout on Amazon by selecting ‘Select a payment method’ and choosing the ‘Add a Venmo account’ option. Users will also have the option of choosing Venmo as their default payment method for all Amazon purchases.
Why does this matter? 🤔 In short, Amazon & Venmo partnership is a match made in heaven. Here’s why it’s a huge deal for both companies, how it fits Amazon’s continuous efforts of disrupting payments, and why it could be a game-changer for Venmo (+2 solid bonus reads):